Business Services Industry
Kentucky American Water doubles water rates.
Knight Ridder/Tribune Business News, December, 2004
By John Stamper, Lexington Herald-Leader, Ky. Knight Ridder/Tribune Business News
Dec. 1--Kentucky American Water decided yesterday to impose an immediate double-digit rate increase on its customers, even though state regulators haven't yet ruled on the company's 7-month-old request for higher rates.
The utility filed a one-paragraph notice yesterday afternoon with state regulators indicating its intention to raise rates by 16.8 percent, beginning this morning. The changes will increase the average residential bill from $18.65 to $21.50 a month, and will boost Kentucky American's annual revenue by $7.3 million, to $50.69 million a year.
The move, although controversial, is allowed by state law, which says utilities can implement a...
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